The Manufacturers Life Insurance Company Sells 1,265 Shares of Silgan Holdings Inc. (NYSE:SLGN)

The Manufacturers Life Insurance Company decreased its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,824 shares of the industrial products company’s stock after selling 1,265 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Silgan worth $2,956,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in Silgan by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock valued at $202,123,000 after buying an additional 246,813 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Silgan by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock valued at $125,404,000 after acquiring an additional 204,384 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Silgan by 6.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company’s stock valued at $109,248,000 after acquiring an additional 163,853 shares during the period. Boston Trust Walden Corp boosted its position in Silgan by 20.6% in the second quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock worth $79,776,000 after purchasing an additional 322,511 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Silgan by 95.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock valued at $59,462,000 after purchasing an additional 598,472 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analyst Ratings Changes

SLGN has been the topic of several recent research reports. Royal Bank of Canada increased their price objective on shares of Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price target on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Robert W. Baird lifted their target price on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Silgan presently has an average rating of “Moderate Buy” and an average target price of $57.00.

Insider Transactions at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the transaction, the vice president now directly owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.39% of the company’s stock.

Silgan Stock Performance

NYSE SLGN opened at $50.58 on Wednesday. The business has a 50-day moving average price of $50.72 and a 200-day moving average price of $47.66. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.50 and a beta of 0.67. Silgan Holdings Inc. has a twelve month low of $38.11 and a twelve month high of $52.84. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31.

Silgan (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS. As a group, equities research analysts predict that Silgan Holdings Inc. will post 3.66 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.50%. Silgan’s payout ratio is 26.67%.

Silgan Company Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers a range of metal and plastic closures, and dispensing systems for food, beverage, health care, garden, home, personal care, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.